Latrobe Valley redevelopment lucrative investment
Government plans to revitalise Victoria's Latrobe Valley region may spark the interest of those in the market for a property investment, with the district earmarked for significant future growth.
State minister for planning Matthew Guy said $100,000 had been committed towards the urban revitalisation in Moe-Newborough, with the figure to be matched by the local council.
Plans for the region's development propose more than 800 new lots, present lucrative investment property opportunities and economic benefits for the local economy.
"The Victorian Coalition government has huge confidence in the future of the Latrobe Valley and sees great potential in Moe and Newborough, in particular, as areas for local growth in the future," Mr Guy commented.
"Lake Narracan is of economic and social importance to the valley and I am hopeful that council can facilitate a planning amendment to bring forward exciting growth plans for Newborough in the near future."
Member for Narracan, Gary Blackwood, said development around the Lake Narracan would invite investment in the area, which was vital to the region's growth.
The Latrobe City Council has committed $100,000 towards to the development of a planning strategy that will include rezoning of land in the district.